Adam Servodio, branch manager at Wells Fargo, visited Ms. McCabe's math academic activity class to discuss personal credit. The students learned about what personal credit is and how credit scores affect personal credit. Mr. Servodio spoke to them about the events that improve a credit score and events that cause credit scores to decrease. The students also learned about how a credit score can affect other opportunities like purchasing a home, renting an apartment, and even applying for a job.
He also talked to students about what an APR is and why the credit card companies charge this. Comparing an APR to monthly interest rates, the class was then able to calculate monthly payments based on balance and interest. Making only the minimum monthly payment, the students learned how much interest would accrue over the course of the payment plan. Knowing the importance of timely payments and spending money within limits, this class is now more prepared for their future financial obligations.